High Oil Prices Due To Tightening Market Fundamentals, Says CGES
While the EU embargo against importing Iranian crude oil and speculation over the consequences of that action pushed prices up at the start of 2012, the Centre for Global Energy Studies (CGES) said market fundamentals are now driving prices. In its latest Monthly Oil Report (OMR), the London-based consultancy said: “Far from being driven solely by geopolitics and speculation, the current level of oil prices is a...
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